$1:
Without the treaty, which came into effect in 1994 and has been ratified by 155 countries including Canada, the United States has no ability to assert rights over offshore areas thought to be rich in oil and gas.
No ability my ass. The US military has every ability to assert US rights over what properly belongs to the USA.
$1:
Canada insists the international border continues through the ocean in a straight line from the land along the border between Alaska and the Yukon.
And in this case I side with Canada that the line should go straight north from the Yukon-Alaska border.
If some international panel awards obviously Canadian offshore territory the the USA then Canada should withdraw from the treaty and maintain her rights over the area.
Frankly, that treaty is going to screw Canada out of the Northwest Passage which is why I recommend withdrawing from it as soon as is possible anyway.